La. Admin. Code tit. 13 § I-3955

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-3955 - Tax Credit Limitations

A. Tax credits shall be issued on a first come, first served basis, based upon the date of final certification.

B. Tax credits are earned upon net new TEUs of actual cargo volumes transiting the applicable public port during the port credit incentive period and the certification of actual cargo volumes as set forth in Section 3951

1. For example, if an applicant established a baseline cargo volume of 250 TEU's, and showed an additional 150 TEU's imported during the incentive period, for a total of 400 TEU's, tax credits would be awarded based upon only the 150 additional net new TEU's imported.

C. A port facility user shall not to be entitled to claim more port credits than are approved by LED pursuant to Section 3951

D. LED shall not issue final certification of tax credits under this program in a total amount for all applicants greater than four million five hundred thousand dollars in any single fiscal year.

La. Admin. Code tit. 13, § I-3955

Promulgated by the Department of Economic Development, Office of the Secretary, LR 48406 (3/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6036.1